iShares Bitcoin Trust ETF (IBIT)

[squidster]

Contango has to do with the futures market and commodity prices. IBIT is an open ended ETF not a commodity.
BlackRock has created an open ended ETF that gives the public exposure to BTC without having to own BTC and the costs associated with that.
Do we expect BlackRock to run the fund for free?

IBIT is an "open ended fund" comprised of shares of BTC and cash. Investors understand they don't own shares of BTC and nobody that buys IBIT expects to own shares of BTC. At least I hope they understand that. $$ come in share count goes up, $$ go out share count goes down that's how open ended funds work. There is no need for reverse or forward splits.

Who is receiving the "transfer of wealth" from IBIT? BlackRock, shareowners, the government? Just curious